The Initial Public Offering (IPO) consists of a fresh issue of equity shares aggregating up to Rs 610 crore and an Offer For Sale (OFS) offer for sale of up to 65.51 lakh equity shares by the company’s promoters and promoter group entities.
As many as 37.43 lakh equity shares would be sold by Vimla Tyagi, 20.21 lakh equity shares by Prem Narayan Tyagi and 7.87 lakh equity shares by Neena Tyagi.
The company may also consider a pre-IPO placement aggregating up to Rs 122 crore.
The firm intends to utilise the net proceeds for repayment or prepayment in full or part of certain borrowings availed by the company and its subsidiaries, and for funding capital expenditure expenses, among others.
The proceeds will also be used for funding inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes.
The company operates three super specialty hospitals in Delhi-NCR and recently, it expanded to Madhya Pradesh.
Intensive Fiscal Services Pvt Ltd, Ambit Pvt Ltd and IIFL Securities Ltd are the book-running lead managers for the IPO.
